Aegon is to partner with core banking engine provider Ohpen to develop a new platform for use throughout the full scope of Aegon’s Dutch services. The financial services provider will use the platform for multiple labels, including Knab, for the administration and distribution of its savings, pension, and investment products. Ohpen’s core banking platform will enable Aegon to offer its products, for which it is a market leader, in a future-proof manner.
Infrastructure of the future
Aegon and Ohpen have the ambition – by merging their domain knowledge within pensions and technology – to build the infrastructure and architecture of the future. Replacing multiple administration systems and software, Aegon will plug into Ohpen’s singular platform via a fully flexible, 100% API based interface. The infrastructure will enable millions of Aegon customers to optimise their wealth management across the different pillars of Aegon’s pension system.
The implementation of the platform shall be executed in different phases, with the first phase being completed by the end of 2017. After the completion of this migration, all accounts of clients with investment and (fiscal) savings products of Aegon Bank N.V. shall be administered by Ohpen.
“It is not only Ohpen’s technology, but Ohpen’s approach that is innovative,” said Aegon CEO, Eric Rutten. “This leads to a better service for clients which is the ultimate objective. In the end, it’s all about consumers making conscious decisions about their financial future.”
“For all the talk of innovation in financial services, Aegon is one of the few companies with the resolve to drive actual change,” said Ohpen CEO, Chris Zadeh. “Like it or not, this is where banking is going. You’re either a leader or a follower. We’re proud to partner with a true leader.”